A developer has proposed a new set of nearly 300 luxury apartments in Naperville:

Their target demographics are people ages 25 to 35 and 50 to 64. The former group makes up about 16% of Naperville’s population whereas 21% are ages 55 to 64.
“The residential use will provide an additional housing opportunity to an underserved segment of Naperville’s population sometimes referred to as ‘renters by choice’ and folks looking for quality housing along the I-88 employment corridor,” the petition said.
Proposed rents run from $1,900 to $2,000 for a studio, $2,050 to $2,400 for a one-bedroom, and $3,000 to $4,400 for a two-bedroom. According to the petition, the majority of the units would be considered attainable housing for the city’s population.
Naperville’s average median income is about $150,360, the petition said. For the person whose average median income is $120,288, about 90% of the apartments at CityGate II would be considered attainable. For the person who makes $90,126, more than 60% of the apartments would meet that threshold.
Naperville is a wealthy suburban community. According to the American Community Survey, owner-occupied units have a median value of $540,000 and the median rent is $1,885.
The developer is not claiming this is affordable housing. The price points would need to be much lower, particularly given Naperville’s median household income. This is “attainable housing,” a different category with a different audience in mind. This is for young professionals and downsizers (looking at the age categories). This is for people who work white-collar jobs in the I-88 corridor, a set of properties crucial to Naperville’s development from the announcement of Bell Labs building a facility in the 1960s.
Another category of people communities like Naperville like to discuss as possible residents are civil servants. Could school teachers, police officers, and firefighters live in this new development? City employees?
Luxury apartments are for certain kinds of possible residents or existing residents. Is there a kind of semi-luxury apartments that could be approved?








